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ECB probes banks' risky shipping loans

Central bank may ask banks to raise more capital in its audit review
Tuesday, April 29, 2014 - 06:00
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As it tries to clean up the region's banks, the ECB is taking a closer look at whether they need more capital to absorb possible losses on loans like Mr Robrahn's - PHOTO: REUTERS

[HAMBURG] Reederei Heinrich, a 149-year-old German shipping company, risks losing two of its three vessels unless it repays loans as financial stress in the industry spreads to banks facing a European Central Bank review. The company, established near Hamburg, Germany's biggest port, has endured